It is predicted that within a couple of years most of the repetitive jobs can be done without a human worker. Marketers and advertisers are already defining AI as the most important part of all their planning. As a matter of fact, it has also been found out that systems with AI attracted more consumers than systems without AI with the figure of 49% against 34%. And according to Statwolf, AI helped Netflix to save money to the tune of 1 billion dollars.
AI and machine learning
AI is the science of designing intelligent systems which can effectively perform tasks that require human intelligence. With the help of AI, a system is able to act on its own without human interference.
Machine learning is an important part in the process of designing AI. It involves feeding the software with ample amounts of well-sorted data. It imparts the ability to computers to accurately predict and decide with the help of sophisticated algorithms.
AI and machine learning for the analytics industry
The traditional approach of data analytics focused on recognizing and understanding key changes by looking into sets of data. However, with the digital capacity of the world exceeding several zettabytes, it has become a laborious and time-consuming job. AI and machine learning enabled systems can go through the large volume of data and effectively ‘decide’ on a conclusion. This is where the brilliance of AI and its branch machine learning lies. It would have taken a human a vast amount of time and the job is pretty mundane.
Take for example the impact AI has on E-commerce giants. E-commerce necessarily needs a lot of data analytics to identify potential customers and advertise effectively. It really irks the consumer when an irrelevant ad pops up while browsing the web. Both the consumer and the advertiser lose interest. Without proper analytics, companies run the risk of wasting money and time. However, machine learning has enabled them to quickly go through the massive sets of collected user data and smartly decide exactly what ads a user may be interested in. Thus E-commerce ventures are necessarily looking forward to AI augmented systems and trained individuals on the domain of AI and machine learning.
- AI has made the world of data analytics faster and is precisely accurate.
- Accenture says that AI is bound to increase productivity as well as profitability. It even predicts that within 2035 AI will generate revenue to the tune of 14 trillion dollars.
- AI will boost profitability by 38% and generate $14 trillion of additional revenue by 2035
Carpe-diem! – Seize the moment
It has been suggested by employment websites that machine learning, deep learning, and natural language processing are the most sought-after skills. And with a good AI and machine learning course, you should seize the opportunity.